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DNA Repair Drugs Global Market Rising Trends, Industry Size, Share Report, Growing Demand and Business Opportunities And Forecast 2024-2033
DNA Repair Drugs Global Market
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According to The Business Research Company's, The dna repair drugs market size has grown exponentially in recent years. It will grow from $8.93 billion in 2023 to $10.89 billion in 2024 at a compound annual growth rate (CAGR) of 21.9%. The growth in the historic period can be attributed to increasing understanding of dna repair mechanisms, growth in cancer research, evolving regulatory landscape for pharmaceuticals, rising prevalence of genetic disorders, expansion of personalized medicine.
The dna repair drugs market size is expected to see exponential growth in the next few years. It will grow to $22.72 billion in 2028 at a compound annual growth rate (CAGR) of 20.2%. The growth in the forecast period can be attributed to development of targeted therapies for dna repair, growing focus on precision medicine, rise in the aging population, increased funding for dna repair drug development. Major trends in the forecast period include integration of artificial intelligence in drug discovery for dna repair, development of combination therapies targeting dna repair pathways, emphasis on gene editing technologies, personalized treatment regimens based on dna repair profiles, rise in clinical trials for dna repair drugs.
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Market Drivers and Trends:
The rising prevalence of cancer is expected to propel the growth of the DNA repair drug market going forward. Cancer is a category of illness that develops in nearly any organ or tissue in the body when aberrant cells proliferate uncontrollably, cross their usual boundaries, and either spread to other organs or invade neighboring body parts. The surge in the prevalence of cancer is driven mainly by smoking, radiation, cancer-causing substances (carcinogens), obesity, and gene mutations. Cancer is prevented by interfering with DNA's ability to fix itself, causing cancerous cells to stop replicating and die. For instance, in 2023, according to the American Cancer Society Inc., a US-based non-profit health group, 1.9 million new cancer cases are expected to be diagnosed in the US, an increase compared to more than 1.8 million new cancer cases diagnosed in 2020. Therefore, the rising prevalence of cancer is driving the growth of the DNA repair drug market.
Product innovation is a key trend gaining popularity in the DNA repair drug market. Major companies operating in the DNA repair drugs market are developing innovative products to sustain their position in the market. For instance, in June 2023, AstraZeneca plc, a UK-based biopharmaceutical company, received approval for Lynparza plus abiraterone in the United States to treat BRCA-mutated metastatic castration-resistant prostate cancer. Lynparza (olaparib) is the first PARP inhibitor of its kind and the first targeted drug to block the DNA damage response (DDR) in cells or tumors without HRR (homologous recombination repair).
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Major Key Players of the Market:
Pfizer Inc., Johnson & Johnson Private Limited, AbbVie Inc., Bayer AG, Novartis AG, Bristol-Myers Squibb Company, AstraZeneca PLC, Sanofi S.A., GlaxoSmithKline plc., Takeda Pharmaceutical Company Limited, Gilead Sciences Inc., Amgen Inc., Merck KGaA, Regeneron Pharmaceuticals Inc., Biogen Inc., Vertex Pharmaceuticals Inc., Ono Pharmaceutical Co. Ltd., Jiangsu HengRui Medicine Co. Ltd., BioMarin Pharmaceutical Inc., Genentech Inc., ClovisOncology Inc., Karyopharm Therapeutics Inc., Repare Therapeutics Inc., Intellia Therapeutics Inc., C4 Therapeutics Inc., Precision BioSciences, Artios Pharma Limited, FoRx Therapeutics AG, Onxeo SA, CRISPR Therapeutics AG
DNA Repair Drugs Market 2024 Key Insights:
• The dna repair drugs market size is expected to see exponential growth in the next few years. It will grow to $22.72 billion in 2028 at a compound annual growth rate (CAGR) of 20.2%.
• Surge In Cancer Cases Fuels The Dna Repair Drug Market Growth
• Product Innovation Reshaping The Dna Repair Drug Market Landscape
• North America was the largest region in the DNA repair drugs market in 2023, and is expected to be the fastest-growing region in the forecast period
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